UniSuper Management Pty Ltd Sells 51,736 Shares of Enphase Energy, Inc. (NASDAQ:ENPH)

UniSuper Management Pty Ltd lessened its holdings in shares of Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) by 8.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 529,204 shares of the semiconductor company's stock after selling 51,736 shares during the period. UniSuper Management Pty Ltd owned 0.39% of Enphase Energy worth $36,346,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Stone House Investment Management LLC bought a new position in Enphase Energy during the 3rd quarter valued at approximately $34,000. Quarry LP bought a new position in shares of Enphase Energy during the third quarter valued at $37,000. Venturi Wealth Management LLC raised its position in shares of Enphase Energy by 318.1% in the 4th quarter. Venturi Wealth Management LLC now owns 669 shares of the semiconductor company's stock worth $46,000 after purchasing an additional 509 shares during the last quarter. Brooklyn Investment Group purchased a new position in shares of Enphase Energy in the 3rd quarter worth about $55,000. Finally, Sava Infond d.o.o. bought a new position in Enphase Energy in the 4th quarter worth about $69,000. 72.12% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Thurman J. Rodgers sold 100,000 shares of Enphase Energy stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $61.26, for a total value of $6,126,000.00. Following the sale, the director now directly owns 1,881,760 shares of the company's stock, valued at approximately $115,276,617.60. The trade was a 5.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Mandy Yang sold 1,319 shares of the business's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $63.32, for a total value of $83,519.08. Following the completion of the sale, the chief financial officer now owns 78,524 shares in the company, valued at $4,972,139.68. This represents a 1.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 3.40% of the company's stock.

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Enphase Energy Price Performance

Enphase Energy stock traded down $1.00 during mid-day trading on Monday, hitting $60.65. The stock had a trading volume of 1,097,028 shares, compared to its average volume of 4,049,347. Enphase Energy, Inc. has a one year low of $51.63 and a one year high of $141.63. The company has a current ratio of 3.53, a quick ratio of 3.28 and a debt-to-equity ratio of 1.44. The firm has a market capitalization of $8.03 billion, a P/E ratio of 81.97 and a beta of 2.12. The firm's 50 day moving average is $62.24 and its 200 day moving average is $75.43.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The semiconductor company reported $0.57 earnings per share for the quarter, topping analysts' consensus estimates of $0.43 by $0.14. Enphase Energy had a return on equity of 15.62% and a net margin of 7.72%. On average, sell-side analysts forecast that Enphase Energy, Inc. will post 2.08 earnings per share for the current fiscal year.

Analyst Ratings Changes

ENPH has been the subject of a number of analyst reports. Susquehanna reduced their price objective on shares of Enphase Energy from $79.00 to $76.00 and set a "neutral" rating for the company in a research note on Wednesday, February 5th. JPMorgan Chase & Co. decreased their price objective on shares of Enphase Energy from $112.00 to $91.00 and set an "overweight" rating for the company in a report on Thursday, January 23rd. Citigroup cut Enphase Energy from a "neutral" rating to a "negative" rating in a research report on Wednesday. Truist Financial reissued a "hold" rating and issued a $65.00 target price (down previously from $100.00) on shares of Enphase Energy in a report on Thursday, January 16th. Finally, Glj Research reaffirmed a "sell" rating and set a $50.69 price target on shares of Enphase Energy in a report on Tuesday, February 4th. Four analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, Enphase Energy currently has a consensus rating of "Hold" and a consensus price target of $90.36.

About Enphase Energy

Enphase Energy, Inc, together with its subsidiaries, designs, develops, manufactures, and sells home energy solutions for the solar photovoltaic industry in the United States and internationally. The company offers semiconductor-based microinverter, which converts energy at the individual solar module level and combines with its proprietary networking and software technologies to provide energy monitoring and control.